U.S. Floorplan Risk Management
Company Cash Flow (Bils)
FOURTH QUARTER
FULL YEAR
2017
2018
2017
2018
Company Adjusted EBIT*
$
2.0
$
1.5
$
9.6
$
7.0
Excluding: Ford Credit EBT
(0.6)
(0.7)
(2.3)
(2.6)
Subtotal
$
1.4
$
0.8
$
7.3
4.4
·
Capital spending
$
(2.1)
$
(2.1)
$
(7.0)
$ (7.7)
Depreciation and tooling amortization
1.3
1.4
5.0
5.4
Net spending
$
(0.8)
$
(0.7)
$ (2.0)
SA
$
(2.4)
Changes in working capital
0.9
0.4
(0.9)
Ford Credit distributions
-
0.7
0.4
2.7
•
All other and timing differences
0.7
0.3
(1.5)
(1.1)
Company adjusted operating cash flow*
$
2.2
1.5
$
4.2
2.8
Separation payments
(0.2)
(0.1)
(0.3)
(0.2)
•
Other transactions with Ford Credit
(0.1)
(0.2)
Other, including acquisitions and divestitures
(0.2)
(0.2)
(0.5)
Cash flow before other actions
$
1.8
$
SA
1.4
$
3.6
1.9
Changes in debt
Funded pension contributions
Shareholder distributions
Change in cash
* See Appendix for reconciliation to GAAP and definitions
(0.2)
(1.2)
(0.4)
(1.8)
(0.7)
(0.2)
(1.4)
(0.4)
(0.6)
(0.6)
(2.7)
(3.1)
$
0.3
$
(0.6)
$
(1.0)
$
(3.4)
14
Ford FORD CREDIT
4Q and FY Company adj.
operating cash flow positive
driven by EBIT and Ford Credit
distributions
FY global funded pension
contributions of $0.4B
FY shareholder distributions of
$3.1BView entire presentation